According to PKN Orlen, in 2015. Capital Group companies achieved a net profit of 3 billion 233 million zł, and the Plock company generated a net profit of 1 billion 47 million zł.
As the company said in the report, a year earlier the company recorded 5 811 mln zł losses. This resulted from the write-offs including losses in the foreign company – Orlen Lietuva, Unipetrol Group and Orlern Upstream in Canada.
A positive result in 2015. Was achieved with reduced, as compared to 2014., Revenues of more than 16.3 billion zł, which in 2015. amounted to 60 466 million zł.
As we read on the website of the group, which was adopted in July 2014. ORLEN Group strategy for the years 2014 to 2017 reflects the reduction in consumption fuel result of the continuing economic crisis and excess refining capacities and increasing pressure on margins resulting from the revolution of shale gas in the United States and economic changes in Russia.
the company diversifies the supply of raw materials
to summarize activities of PKN Orlen in 2015. president of the company pointed out that “bearing in mind the need to ensure a stable supply of raw material necessary for the operation of production facilities within the group PKN Orlen, the company intensified activities diversification.”
“in recent years regularly are imported loads from Saudi Arabia to the refinery in Plock, they purchased the first load Iraqi crude oil to the refinery in Mazeikiu Nafta (Orlen Lietuva – PAP). , Diversification of supply of raw materials will continue in 2016. – The company will seek to open new sources of supply of raw materials “- said Jasinski, quoted in the financial statements.
The basic direction of oil supply is still Russia
He recalled, however, that in the case of purchases of Russian oil Urals, which is PKN Orlen primary feedstock for processing the raw material, at the end of 2015. the company has entered into two contracts with Rosneft and Tatneft for delivery to refinery in Plock. “As part of continuing cooperation with Rosneft strengthened were aspects such as price conditions and flexibility of supply, which is very important from the point of view of the refinery” – said Jasinski.
In the capital group PKN Orlen, in addition to refineries in Poland: Plock and Trzebinia and Jedlicze, there are also refineries in the Czech Republic: in Litvinov and Kralupy – Ceska Rafinerska and Mazeikiai in Lithuania – Orlen Lietuva. The total capacity of crude oil per year are more than 35 million tons. “In 2015,. The supply of oil in all directions, proceeded according to plan.
The suppliers of raw material for all refineries were both manufacturers and other companies operating on Russian crude oil market, including traders operating in the international oil market “- he noted the concern from Płock. The company said that oil supplied to Plock came primarily from Russia, as well as Saudi Arabia, Kazakhstan, Norway and the UK. To refineries in the Czech Republic, raw material was supplied from Russia, Algeria, Azerbaijan, Kazakhstan and Libya. While refinery in Lithuania’s Mazeikiu Nafta supplied was mainly in the oil coming from Russia, and also from Algeria, Azerbaijan, Iraq, Kazakhstan and Nigeria.
Petroleum will “balance” in 2017.
According to PKN Orlen, in the medium term to 2020 “. the majority of the publicly available analyzes and forecasts assumes a reflection of oil prices.” “Forecasts indicate that only in mid-2017. The oil market should reach a point of equilibrium between supply and demand, which could be a boost to oil prices.”
Among the main possible factors affecting oil prices 2016. płocki concern mentioned, among others, mining policy OPEC countries, the slowdown in world economic growth, including China, as well as the return on Iranian oil market in the amount of 400 thousand. barrels per day by the end of 2016. According to the company, the deterioration of the situation in hotspots around the world, such as North Africa, the Middle East and Ukraine, can contribute to changes in the dynamics of oil prices.
These factors, as indicated PKN Orlen, indicated previously forecast for the price of Brent crude oil by 2020. in the range of 55-95 USD per barrel, but at the turn of 2015 and 2016. there were already forecast below $ 30, “Balancing the oil market will be possible mainly due to supply reduction “- rated Plock concern.
PKN Orlen recalled that at the beginning of 2015. barrel of Brent crude oil cost $ 55 in mid-May 2015. its price rose to $ 66, and then began to fall in quotations for $ 36 at the end of the year. “Lower prices resulted mainly from the surplus supply of oil on the market and excess mining potential, which arose in an environment of high prices persist until mid-2014. The downward trend has been further strengthened by the growing influence of geopolitical, expected lifting of sanctions imposed on Iran and the ever persistent high oil production in OPEC countries. There were also the demand factors associated with the risk of weakening demand resulting from the economic slowdown in China, Brazil and India, “- noted the company. As noted by PKN Orlen, forecasts of demand for oil by the IEA – International Energy Agency, 2021. Assume an average annual increase of 1.2 million barrels per day, “which is a very solid prospects in historical perspective”
group PKN Orlen manages six refineries in Poland, the Czech Republic and Lithuania, also conducts mining operations in Poland and Canada.
Yesterday’s trading on the Stock Exchange ended August decline of 0.59 percent. and the price per share was 67.82 zł.
Today quotes the COMPANY began the increases – for 9.35 shares prices rose by 0.28 percent.
PAP, jk
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